Indian economy to become world’s second-largest by 2050: Gautam Adani

Gautam Adani on Saturday said India will become the world’s third-largest economy by 2030 and the second-largest by 2050, adding that the country took 58 years to become a trillion-dollar economy, but will add an equivalent sum to GDP every 12-18 months hence.

“Given the pace at which the government has been executing a vast multitude of simultaneous social and economic reforms, I anticipate that within the next decade, India will start adding a trillion dollars to its GDP every 12 to 18 months – thereby putting us well on track to be a USD 30 trillion economy by 2050 and with a stock market capitalization that will possibly exceed USD 45 trillion,” said Adani while delivering a keynote address on “India’s Path to an Economic Superpower” at the World Congress of Accountants 2022 in Mumbai on Saturday.

India is currently the world’s fifth-largest economy with a gross domestic product (GDP) of $3.5 trillion.

India’s success story of combining economic growth and democracy has no parallel, he added.

“If there ever were a time to be Indian, be in India, and associate with India – it is now. The foundation to build a new resilient India has already been laid,”he added.

Asia’s richest man also said India’s median age at 38 in 2050 with a population of 1.6 billion and per capita income of $16,000, an increase of 700% from current levels.

He also predicted that foreign direct investment (FDI) in India will touch a trillion dollars.

Speaking on the spirit of entrepreneurship in the country, Adani added, “In 2021, India added a unicorn every 9 days. It executed the largest number of real-time financial transactions globally – a staggering 48 billion. This was 6 times greater than the US, Canada, France, and Germany combined.”